(1) For the purposes of investigating violations or complaints arising under this chapter, or for the purposes of examination, the State licensing agency may review, investigate, or examine any loan originator licensed or required to be licensed under this chapter, as often as necessary in order to carry out the purposes of this chapter.
(2) Each such loan originator shall make available upon request to the State licensing agency the books and records relating to the operations of such originator. The State licensing agency may have access to such books and records and interview the officers, principals, loan originators, employees, independent contractors, agents, and customers of the licensee concerning their business.
(3) The authority of this section shall remain in effect, whether such a loan originator acts or claims to act under any licensing or registration law of such State, or claims to act without such authority.
(4) No person subject to investigation or examination under this section may knowingly withhold, abstract, remove, mutilate, destroy, or secrete any books, records, computer records, or other information.
Structure US Code
CHAPTER 51— SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING
§ 5101. Purposes and methods for establishing a mortgage licensing system and registry
§ 5103. License or registration required
§ 5104. State license and registration application and issuance
§ 5105. Standards for State license renewal
§ 5106. System of registration administration by Federal agencies
§ 5108. Backup authority to establish a nationwide mortgage licensing and registry system
§ 5110. Background checks of loan originators
§ 5111. Confidentiality of information
§ 5113. Enforcement by the Bureau
§ 5114. State examination authority
§ 5115. Reports and recommendations to Congress